Martingale Asset Management L P Sells 26,920 Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM)

Martingale Asset Management L P decreased its position in MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) by 77.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,749 shares of the industrial products company's stock after selling 26,920 shares during the quarter. Martingale Asset Management L P's holdings in MSC Industrial Direct were worth $579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its stake in shares of MSC Industrial Direct by 36.9% during the third quarter. Barclays PLC now owns 25,490 shares of the industrial products company's stock valued at $2,195,000 after buying an additional 6,864 shares during the period. Norges Bank bought a new stake in shares of MSC Industrial Direct during the 4th quarter valued at about $34,735,000. State of New Jersey Common Pension Fund D increased its position in shares of MSC Industrial Direct by 8.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 26,035 shares of the industrial products company's stock valued at $1,945,000 after buying an additional 2,136 shares during the period. Rhumbline Advisers raised its stake in MSC Industrial Direct by 0.9% in the fourth quarter. Rhumbline Advisers now owns 155,601 shares of the industrial products company's stock worth $11,622,000 after buying an additional 1,418 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in MSC Industrial Direct in the fourth quarter worth about $2,654,000. 79.26% of the stock is owned by institutional investors.

Insider Activity

In other MSC Industrial Direct news, Director Mitchell Jacobson acquired 27,642 shares of the stock in a transaction on Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the transaction, the director now directly owns 1,951,725 shares of the company's stock, valued at $136,171,853.25. This trade represents a 1.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.30% of the company's stock.

MSC Industrial Direct Stock Performance

MSM traded up $1.40 during mid-day trading on Friday, reaching $77.24. 545,587 shares of the company traded hands, compared to its average volume of 631,950. MSC Industrial Direct Co., Inc. has a 52-week low of $68.10 and a 52-week high of $94.31. The company's fifty day moving average price is $78.12 and its 200-day moving average price is $80.61. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $4.30 billion, a P/E ratio of 18.44 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $891.70 million during the quarter, compared to analyst estimates of $908.30 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. MSC Industrial Direct's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 EPS. On average, sell-side analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 annualized dividend and a dividend yield of 4.40%. MSC Industrial Direct's dividend payout ratio (DPR) is 89.71%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MSM shares. Robert W. Baird reduced their price target on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Finally, Loop Capital cut their target price on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a research note on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $82.20.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.